Once you find some properties you "like" look up owner info and send them handwritten letters (tons of examples on BP).I sent 2 letters to the owner of my first property but it ended up getting listed on Hubzu, foreclosure auction which I subsequently won.

Subsequently, you are really screwing this person over in my opinion.

Short sales takes lots of time to close, let alone get approve by the lender.They will all insist on owner occupancy for some time before allowing a subsequent sale.

I've (we've) seen this game before. 2000-01 (tech crash and the subsequent RE crash in places like RTP) then again several years later pre-GR.

VA does not work if you do not intend to and subsequently occupy the property as a primary residence.

Even if the payment goes up it's mostly towards interest (a write-off) and I don't know anyone that doesn't like lowering their income tax.The only other thing I'd ask someone (loan officer) is if doing a cash-out refi would create any large challenges around your debt-to-income ratio and hurt your ability to buy a subsequent property.

Another thing to consider with a VA loan is the up front funding fee of 2.15% for first time, 3.3% for subsequent use.

Another thing to consider is the subsequent use VA funding fee, which is 3.3% of the loan amount.

I know it's vague, but the more you put in, the clearer your business is going to look to you, and subsequently, your investors.

Worry about returns and rehab projects on subsequent houses.